Save Article

New England Development,
O'Connor to Merge Operations

By

Mitchell Pacelle Staff Reporter of The Wall Street Journal

Updated June 4, 1996 12:26 a.m. ET

New England Development and the O'Connor Group, two of the largest private owners of regional malls, have agreed to merge their management operations, creating one of the nation's largest mall-management and leasing companies and furthering the consolidation of the mall industry.

"We're not merging [ownership of] all of the properties at this time, but the agreement will give us some development and redevelopment opportunities that we can look at together," said Stephen Karp, chairman and chief executive of...